Enhanced odds provide fantastic value and are an increasingly popular option for punters signing up for an online betting account.
Bookmakers select high profile televised sports events and generally offer a massive boost to the normal price on one of the selections. In the case of football matches, boxing matches and other head to head events, enhanced odds may be available for both selections. There have even been times when bookmakers, such as Coral, have offered 25/1 for a near certainty. For example, at least one corner in the cup final.
Enhanced odds are provided as an alternative to regular sign up offers and are therefore limited to new customers opening an account during the promotion period. There are limits on the amount that can be staked which vary depending on how much of a boost there is to the normal price. In most instances, the extra winnings from enhanced odds are provided as free bets so punters receive cash winnings at the normal price and a bunch of free bets to use on other sporting events. Sometimes, all the returns are paid as free bets.
The English domestic football season is usually the best time for enhanced odds offers which are available most weekends for live Sky Sports and BT Sport games. However, punters can avail of enhanced odds on horse racing at major meetings, championship boxing matches, tennis Grand Slams, golf Majors, politics and reality television competitions such as X Factor and Strictly Come Dancing.
Sign up offers are a great way to boost your prize pot so how do enhanced odds compare with the usual welcome deals?
From the point of view of matched betting, free bets from enhanced odds offers can be converted to cash profit in the usual way by placing opposing lay bets on a betting exchange. This will typically provide £8 profit for every £10 free bet stake received.
The first important point to consider is the possibility that the enhanced odds selection will lose and the stake will be lost. There may be occasions when new customers will be compensated for backing a loser with a free bet but in the main, the value of enhanced odds offers comes from the extra winnings which can be expected to provide more free bets than the standard welcome offer.
Matched betting techniques can be used to ensure a win from enhanced odds regardless of the result. Guides on matchedbets.com explain how to use the matched betting calculator to work out a staking strategy so that a profit is made no matter what happens.